Is Westlake Village, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Westlake Village is a buyer's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Westlake Village was a Seller's Market.

Key Takeaway

Westlake Village is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Westlake Village, CA

How much do homes in Westlake Village, CA cost?

Median Sold Price

$1,472,500

$632/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$11,250(+0.8%)

Key Takeaway

Homes in Westlake Village have sold for 0.8% more than they did a year ago.

Summary: The median home sold price in Westlake Village was $1,472,500 in February 2024, up 0.8% from last year, and the median price per square foot was $632.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $450K$400K
-11.1%
2 $801K$705K
-12.0%
3 $1.3M$1.3M
+2.3%
4 $1.6M$1.6M
-1.5%
5+ $2.6M$2.2M
-13.1%

Summary: Westlake Village housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.1%, 2 bedroom homes decreased by 12%, 3 bedroom homes increased by 2.3%, 4 bedroom homes decreased by 1.5%, and 5+ bedroom homes decreased by 13.1%.

Median Sold Price Compared To Nearby Cities

Thousand Oaks
+4.0%
Newbury Park
+1.8%
Westlake Village
+0.8%
Westlake Village
-3.3%
Triunfo Pass-Point Mugu
-33.7%

Housing Supply in Westlake Village, CA

How many homes are available in Westlake Village, CA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
9490-4.3%

Summary: The Westlake Village real estate market had 90 homes for sale in February 2024, a 4.3% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 1212
0.0%
3 2317
-26.1%
4 3941
+5.1%
5+ 2020
0.0%

Summary: The Westlake Village housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 26.1%, 4 bedroom homes increased by 5.1%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
2912-58.6%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Westlake Village, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 12 homes were sold or pending in Westlake Village in February 2024, down by 58.6% month-over-month. Of the 12 sold homes, 50% were sold under asking, 17% were sold at asking, and 33% were sold over asking.

Days on Market for Westlake Village, CA

How long does it take to sell a home in Westlake Village, CA?

Average Sale Time

Feb 2023Feb 2024CHANGE
70 Days60 Days-13.3%

Summary: Homes in Westlake Village had an average of 60 days on market in Feb 2024, down by 13.3% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Westlake Village are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 12 homes were sold in Westlake Village; 50% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 18 Days Ago

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